This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure is often incorporated into the design of compounds that interact with serotonin receptors, making it valuable in the development of potential antidepressants and anxiolytics. Additionally, it is explored for its role in creating novel therapeutic agents that modulate monoamine transporters, which are critical in treating conditions like depression and anxiety. Researchers also investigate its derivatives for their potential in drug discovery programs aimed at addressing neurodegenerative diseases.